New York Life Investment Management LLC Has $14.54 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

New York Life Investment Management LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 137,570 shares of the real estate investment trust's stock after selling 54,700 shares during the quarter. New York Life Investment Management LLC's holdings in Prologis were worth $14,541,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AMF Tjanstepension AB grew its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Prologis by 14.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust's stock worth $3,603,000 after acquiring an additional 3,614 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Prologis by 0.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,210 shares of the real estate investment trust's stock valued at $5,835,000 after acquiring an additional 327 shares during the last quarter. Integrated Advisors Network LLC raised its position in Prologis by 2.4% during the third quarter. Integrated Advisors Network LLC now owns 5,442 shares of the real estate investment trust's stock valued at $687,000 after purchasing an additional 126 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Prologis by 10.8% during the third quarter. Pinnacle Associates Ltd. now owns 62,853 shares of the real estate investment trust's stock valued at $8,378,000 after purchasing an additional 6,124 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 0.9 %

NYSE:PLD traded up $1.11 during trading hours on Friday, hitting $123.88. 5,562,229 shares of the company were exchanged, compared to its average volume of 3,851,597. The stock has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a fifty day simple moving average of $114.28 and a 200 day simple moving average of $118.01. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $128.78.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.